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Ulta Tops $10 Billion in Sales

  • Rounding out a strong year, Ulta Beauty saw 4th Q sales increase 18.2% to $3.2B.

  • For the Full year, net sales increased 18.3% to $10.8 Billion, a new record! Operating income jumped 26.3% to $1.6B.

  • For the first time in Ulta's 33 year history annual revenue surpassed $10 Billion.

  • Gross Margins increased to 39.6% in 2022.

  • Projected growth for Ulta Beauty is 1500 to 1700 stores with an additional 800 Ulta pop-up stores in Target (Currently at 254 stores) locations.

  • The connection between beauty and wellness is a trend noted by industry experts and is expected to continue in the foreseeable future. Ulta showed positive sales in all categories with Skin Care being the fastest growing.

  • Comparable Sales outlook is projected to be more conservative for the coming year with net sales between $10.95B to $11.05B and Comps up 4% to 5%.

SOURCE: Retail Dive, 3/10/23

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